Project Managers or Construction Project Managers are the professionals who can answer these and many other questions that any developer faces when considering a real estate development of any type.

But what are the main functions of Project Management?

• Know and assimilate your client’s interests and objectives to propose the best way to achieve them through the projects you manage.
• Establish the ideal strategy to develop projects, incorporating professionals and companies at the most appropriate time so that they can maximize the value of their contribution.
• Develop the conditions to facilitate the entire project team to meet its objectives.

The ideal is to hire a Project Manager from the initial phases of the projects, so that all the decisions that can be made are aimed at meeting the objectives and requirements of the developer.

And what are the main contributions of Project Managers to a real estate developers or investors?

1. The defense of the project’s objectives, from the neutrality of not being the architect or engineer of the project, nor the construction company, nor any other agent with its own interests. And ideally align the interests of all parties, so that the success of the project is also that of all those involved.
2. The design of the strategy and its correct execution. It is as important to properly plan the best way to develop the project as it is to make it possible, from the feasibility phase, through design or construction and final delivery. The strategy involves determining what profile of professionals and companies are necessary for the project based on their characteristics and the planned objectives, what is the ideal way to hire them and the ideal time to do so. Execution involves coordinating the project team, managing available resources in the most efficient way, monitoring compliance with objectives, whether deadlines, cost, quality, scope, sustainability, risk levels, etc., anticipating possible eventualities and solving those that may arise.
3. The facilitation of communications and procedures, ensuring that all teams involved in the project have adequate information and that decisions are made and transmitted with the required diligence and agility. It also ensures that the client is always and promptly informed of all relevant aspects, avoiding overloading with irrelevant information and coming with solutions and not problems.
4. Obtaining competitive offers, thanks to knowledge of the market, industries and companies, as well as the evolution of prices. This allows Project Managers to evaluate the proposals received from an economic and technical point of view and determine whether they are offers that meet the requirements and guarantees that each project requires.
5. Valuable contributions to the project, defending the objectives at all times and prioritizing and balancing the different requirements, proposing or facilitating those adjustments or changes that may be necessary to adopt to achieve them.
6. Anticipate the risks and opportunities presented by the project, working to avoid or contain the negative aspects and maximize the positive ones. The correct evaluation of these factors and their subsequent monitoring and management can mean the difference between the success or failure of the project and is essential for reducing uncertainties.

With all these, the Project Managers are able to significantly increase the chances of success of any real estate project, minimize uncertainty and provide peace of mind and professionalism to any developer who has trusted their management, improving the satisfaction of both the investor and the end client.

If Project Managers also link their fees to the success of the project, it shows even more evidently their commitment to achieving the objectives.

At Vivare we always offer our clients that a part of our fees depend on the success of the project, under the same conditions that we propose for the rest of those involved, so that we are all aligned around the same objectives.